US Bancorp DE Sells 452 Shares of Cirrus Logic, Inc. (NASDAQ:CRUS)

US Bancorp DE cut its holdings in shares of Cirrus Logic, Inc. (NASDAQ:CRUS) by 25.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,348 shares of the semiconductor company’s stock after selling 452 shares during the period. US Bancorp DE’s holdings in Cirrus Logic were worth $134,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Huntington National Bank grew its position in Cirrus Logic by 10,500.0% during the 3rd quarter. Huntington National Bank now owns 212 shares of the semiconductor company’s stock worth $26,000 after acquiring an additional 210 shares during the last quarter. Westside Investment Management Inc. bought a new stake in Cirrus Logic during the 3rd quarter worth approximately $35,000. Sound Income Strategies LLC bought a new stake in Cirrus Logic during the 4th quarter worth approximately $46,000. R Squared Ltd bought a new stake in Cirrus Logic during the 4th quarter worth approximately $47,000. Finally, Quent Capital LLC grew its position in Cirrus Logic by 167.2% during the 4th quarter. Quent Capital LLC now owns 473 shares of the semiconductor company’s stock worth $47,000 after acquiring an additional 296 shares during the last quarter. 87.96% of the stock is currently owned by institutional investors.

Cirrus Logic Stock Up 1.5 %

CRUS stock opened at $99.82 on Monday. The business’s fifty day moving average is $103.70 and its 200-day moving average is $110.78. The company has a market cap of $5.30 billion, a P/E ratio of 18.12 and a beta of 0.89. Cirrus Logic, Inc. has a twelve month low of $81.30 and a twelve month high of $147.46.

Cirrus Logic (NASDAQ:CRUS) last posted its quarterly earnings results on Tuesday, February 4th. The semiconductor company reported $2.15 earnings per share for the quarter, missing analysts’ consensus estimates of $2.36 by ($0.21). Cirrus Logic had a net margin of 16.55% and a return on equity of 16.60%. Research analysts anticipate that Cirrus Logic, Inc. will post 5.63 earnings per share for the current fiscal year.

Insider Activity

In related news, EVP Jeffrey W. Baumgartner sold 2,051 shares of the company’s stock in a transaction on Monday, February 3rd. The shares were sold at an average price of $100.00, for a total value of $205,100.00. Following the completion of the sale, the executive vice president now owns 8,330 shares in the company, valued at $833,000. This represents a 19.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 1.02% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms recently commented on CRUS. Susquehanna increased their price target on Cirrus Logic from $135.00 to $140.00 and gave the stock a “positive” rating in a research report on Monday, November 18th. Barclays upped their price objective on Cirrus Logic from $105.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. StockNews.com raised Cirrus Logic from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Finally, Benchmark raised Cirrus Logic from a “hold” rating to a “buy” rating and set a $125.00 price objective on the stock in a report on Wednesday, February 5th. One research analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $132.86.

Cirrus Logic Profile

Cirrus Logic, Inc, a fabless semiconductor company, develops low-power high-precision mixed-signal processing solutions in China, the United States, and internationally. The company offers audio products, including amplifiers; codecs components that integrate analog-to-digital converters (ADCs) and digital-to-analog converters (DACs) into a single integrated circuit (IC); smart codecs, a codec with integrated digital signal processing; standalone digital signal processors; and SoundClear technology, which consists of a portfolio of tools, software, and algorithms that helps to enhance user experience with features, such as louder, high-fidelity sound, audio playback, voice capture, and hearing augmentation for use in smartphones, tablets, laptops, AR/VR headsets, home theater systems, automotive entertainment systems, and professional audio systems.